2018-08-10

Avg First Mortgage Rises to 5.67pc in July

The trend of rising mortgage interest rates continues. The latest monitoring data released by Rong 360 shows that the average interest rate of the first home loan in China in July 2018 was 5.67%, which is equivalent to the benchmark interest rate of 1.157 times, up 0.53% from June; the average interest rate of the first home loan in July last year was 4.99%. The 19th consecutive rising month since January 2017.

At present, the proportion of banks with the first-home loan interest rate benchmark and above has reached 94.76%. The analysis believes that the overall interest rate growth rate of housing loans will slow down in the future, but the probability will remain stable and slightly rising.

The data shows that among the average interest rates of the first home loans in 35 cities monitored by 360, the lowest value in July was 5.16% in Shanghai, which was unchanged from last month; the highest value was 6.35% in Wuhan.